The EXOptions brokerage platform is an online trading broker that provides you with the ability to invest in digital options. It was just introduced to the general public and it seems like not all work on it has been finished yet. This could turn out to be quite troublesome for people if someone rushes into a sign-up.
Below you can find my detailed EXOptions ‘scam or not’ review. I must warn you from the start that this does not seem like a promising broker. It does not look like the most reliable and useful tool for online trading you can find and that is why I would recommend you join a better alternative instead. But to learn more about it, read till the end.
Details on the EXOptions Broker
The first thing that seemed very suspicious about the brokerage is the complete lack of background information. I give that to the fact that the website is still probably under construction. But if you aim for transparency and want to be ethical towards your customers, you owe them a bit of information about yourself. There is no mention of the team that maintains the broker.
Review Verdict: EXOptions Is Scam
But there is an address. It took some digging but it turns out that at that address is located the William R. Snodgrass Tennessee Tower. If you Google the address, you will see that it houses Tennessee government offices, including on the 25th floor. In other words, this is a total fabrication of location and legitimacy. It is well-known that governmental structures are located in the Tower, I doubt there is a digital options broker there.
The legitimacy of any given broker is crucial to the safety of your investments. When you trade online, your funds are dependent on the security this broker can provide. If you use a trading robot, you need to make sure its integrated brokerages are safe and genuine as well. I would recommend the QProfit System auto-trading platform as one of those that can connect you to the best brokers in the industry.
The simple fact that there is no real physical address and there is no information about the creators of the broker is a sign enough that something is wrong.
EXOptions Scam Flags
The brokerage is new and it offers 5 account types in total. One major problem with them is that the minimum deposit is not $250 as it is with most brokers, but $500. This is too much to deposit into a brokerage that has not been proven to work and is under the suspicion of being a scam.
You also get an enforced bonus upon depositing. Such bonuses are dangerous because they often prevent you from freely withdrawing funds before achieving a certain trade volume. Be very cautious about such enforced bonuses and make sure you get acquainted with the bonus’ terms and conditions before proceeding further. Another problem with it is the fact that it claims regulation. But if you check with the registers of the mentioned regulatory authorities, you will see that no license for operation has been issued.
To add to that, the EXOptions scam claims to provide a risk-free and completely safe trading environment. The website itself has not been reliably encrypted. This means that if you share your personal information by filling in the registration form, your personal data might get stolen as it is not encrypted.
The EXOptions broker is a scam you should be very careful with. There are much better-developed and more secure online trading brokers you can choose from. The best among the require only $250 as a starting bonus. EXOptions cannot provide safety, security, proper education or satisfying trade-enhancing features. For all of these reasons and the ones listed above, I advise you to consider a different alternative instead.
Review Verdict: EXOptions Is Scam